Cypress Bioscience, Inc. (NASDAQ:CYPB) today confirmed that it received a revised offer from Ramius LLC to acquire all of the outstanding common shares of Cypress common stock for $5.50 per share in cash that it does not already own.

Cypress’ Board of Directors, with the assistance of its financial advisors, has been actively engaged in evaluating a broad range of strategic alternatives. Cypress’ Board will carefully evaluate the revised Ramius offer as part of its ongoing evaluation.

Cypress Bioscience, Inc. provides therapeutics and personalized medicine services in the United States. The company focuses on addressing the needs of physicians and their patients by identifying unmet medical needs in the areas of pain, rheumatology, and physical medicine and rehabilitation, including challenging disorders, such as fibromyalgia and rheumatoid arthritis. It offers Savella, a dual-reuptake inhibitor that preferentially blocks the reuptake of norepinephrine for the management of fibromyalgia. The company also provides personalized medicine services, including Avise MCV, a test that aids in the diagnosis and prognosis of rheumatoid arthritis; and Avise PG, a test that supports dose optimization and therapeutic decision making for patients taking methotrexate. Cypress Bioscience, Inc. has a license agreement with Pierre Fabre Medicament to develop and sell products with the compound milnacipran as an active ingredient for various indications in the United States and Canada; and a collaboration agreement with Forest Laboratories, Inc. for the development and marketing of milnacipran. The company was founded in 1981 and is based in San Diego, California.

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